F.N.B. (NYSE:FNB) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

F.N.B. (NYSE:FNB) announced its earnings results on Thursday. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03, Zacks reports. The company had revenue of $438.21 million during the quarter, compared to analyst estimates of $424.39 million. F.N.B. had a net margin of 17.78% and a return on equity of 7.97%. During the same period in the previous year, the business posted $0.34 earnings per share.

F.N.B. Price Performance

FNB stock opened at $15.91 on Friday. F.N.B. has a one year low of $10.88 and a one year high of $17.70. The company’s fifty day moving average price is $14.48 and its 200-day moving average price is $14.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $5.72 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, June 2nd. F.N.B.’s dividend payout ratio (DPR) is presently 38.10%.

Hedge Funds Weigh In On F.N.B.

Several hedge funds have recently modified their holdings of FNB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of F.N.B. by 23.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank’s stock worth $2,058,000 after buying an additional 29,248 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of F.N.B. by 11.6% in the first quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock worth $3,692,000 after buying an additional 28,570 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of F.N.B. by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock worth $14,112,000 after buying an additional 58,672 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock worth $20,353,000 after buying an additional 660,387 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Keefe, Bruyette & Woods upgraded shares of F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 price target for the company in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. DA Davidson reiterated a “buy” rating and issued a $19.00 price target on shares of F.N.B. in a research report on Thursday, April 17th. Finally, Truist Financial upped their price target on shares of F.N.B. from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

F.N.B. Company Profile

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.